Linklaters has quizzed Olswang on a “breach of covenants” on the sale of retailer BHS after it took money destined to be used in running the business as payment for its work on the deal.
In a letter to Olswang, Linklaters sought clarification from the firm on what had happened to £7m from the sale of one of BHS’s properties in 2015, soon after the business was sold by Linklaters’ client, Arcadia Group, to Olswang’s client, Retail Acquisitions Limited (RAL).
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